Bitcoin's Adoption Rate Compared to Other Technologies, According to BlackRock
In the world of cryptocurrencies, Bitcoin continues to be a standout performer, with its value soaring to new heights over the past decade. One of the most significant factors contributing to this growth can be traced back to 2024, when Bitcoin exchange-traded funds (ETFs) were launched, enabling easier access to Bitcoin as an asset for both institutional and retail investors.
According to data from CF Benchmarks, these Bitcoin ETFs collectively acquired 859,454 BTC, which equates to 4.3% of Bitcoin's circulating supply. This acquisition, as reported by K33 Research, matches eight years' worth of mining output.
These ETFs are considered a critical milestone for both the crypto and traditional markets, providing a more mainstream avenue for investors to gain exposure to Bitcoin. The launch of these ETFs in 2024 marked a significant turning point, driving prices to new all-time highs.
Bitcoin's rapid growth since its launch in 2009 can be attributed to several key factors. One of the primary drivers is Bitcoin's programmed scarcity through halving events. Every four years, the reward for mining Bitcoin is halved, reducing the supply of new coins and historically triggering major price surges and bull runs by creating scarcity.
Another significant factor is the increasing involvement and investment from institutional players. Institutions such as fund managers, hedge funds, and companies have legitimized Bitcoin as an asset class. The launch of Bitcoin ETFs in 2024 was a testament to this growing acceptance.
Clearer regulations and governmental actions towards digital assets have also played a crucial role in Bitcoin's growth. Notably, in 2025, the U.S. government issued an executive order and established a working group dedicated to digital asset regulation, which boosted market confidence and contributed to price increases.
The expanding global number of cryptocurrency users has also fueled demand for Bitcoin. Between 2018 and 2022, there was a significant acceleration in crypto adoption worldwide, supporting Bitcoin’s price growth and network effects.
The overall cryptocurrency market has grown in capitalization and maturity from 2010 to 2025, with Bitcoin dominating as the leading crypto asset. The development of exchanges, wallets, and infrastructure has supported Bitcoin’s growth and accessibility.
Lastly, Bitcoin’s role as a potential hedge against monetary inflation and currency devaluation, occurring amid rising global debt and monetary inflation since 2009, has attracted investors seeking alternatives to traditional fiat currencies dominated by the U.S. dollar.
In summary, Bitcoin’s rapid growth results from a combination of its programmed scarcity through halving events, increasing institutional adoption, regulatory progress enhancing investor trust, growth in its user base, infrastructure maturation, and broader macroeconomic factors favoring alternative assets.
Looking ahead, analysts at CF Benchmarks predict that investment advisors could increase their positions in digital gold and Ethereum-based ETFs by more than 50% by 2025, further fueling the growth of these digital assets. As the cryptocurrency market continues to evolve, it's clear that Bitcoin will remain a key player in this dynamic landscape.
Ethereum, the second-largest cryptocurrency, might also benefit from the increasing interest in digital assets, as analysts predict investment advisors could increase their positions in Ethereum-based ETFs by more than 50% by 2025. This growth could parallel the growth trajectory established by Bitcoin ETFs, which, when launched in 2024, drove prices to new all-time highs. The technology behind Ethereum, a decentralized platform that enables smart contracts and the development of decentralized applications (dApps), has been gaining traction and is often seen as a strong alternative to Bitcoin.
